Bailard Inc. Acquires Shares of 8,696 Tenet Healthcare Co. (NYSE:THC)

Bailard Inc. bought a new stake in shares of Tenet Healthcare Co. (NYSE:THC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,696 shares of the company’s stock, valued at approximately $657,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Yousif Capital Management LLC raised its stake in Tenet Healthcare by 0.3% during the 4th quarter. Yousif Capital Management LLC now owns 42,825 shares of the company’s stock valued at $3,236,000 after buying an additional 131 shares during the last quarter. Xponance Inc. grew its stake in shares of Tenet Healthcare by 1.2% during the 4th quarter. Xponance Inc. now owns 12,337 shares of the company’s stock valued at $932,000 after purchasing an additional 147 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Tenet Healthcare by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 44,328 shares of the company’s stock worth $2,921,000 after purchasing an additional 220 shares during the period. Mariner LLC grew its position in Tenet Healthcare by 5.2% during the third quarter. Mariner LLC now owns 6,771 shares of the company’s stock valued at $446,000 after buying an additional 332 shares during the period. Finally, Park Avenue Securities LLC raised its position in Tenet Healthcare by 3.3% in the third quarter. Park Avenue Securities LLC now owns 11,893 shares of the company’s stock worth $784,000 after acquiring an additional 384 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $104.00 target price on shares of Tenet Healthcare in a research report on Wednesday, April 10th. Barclays started coverage on shares of Tenet Healthcare in a research note on Wednesday, March 6th. They set an “overweight” rating and a $113.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tenet Healthcare from $100.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada raised their target price on shares of Tenet Healthcare from $97.00 to $109.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Mizuho raised their price target on Tenet Healthcare from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $100.38.

Tenet Healthcare Trading Down 1.4 %

Shares of NYSE THC opened at $96.13 on Friday. The stock has a market capitalization of $9.54 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 3.12 and a beta of 2.08. The company has a debt-to-equity ratio of 4.77, a current ratio of 1.51 and a quick ratio of 1.42. The business has a fifty day moving average price of $98.22 and a 200 day moving average price of $80.42. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $107.80.

Tenet Healthcare (NYSE:THC) last announced its earnings results on Thursday, February 8th. The company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $1.10. Tenet Healthcare had a net margin of 2.97% and a return on equity of 26.34%. The company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period last year, the firm earned $1.96 earnings per share. Tenet Healthcare’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Tenet Healthcare Co. will post 6.3 EPS for the current fiscal year.

Insider Activity

In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the sale, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 17,000 shares of Tenet Healthcare stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $94.84, for a total transaction of $1,612,280.00. Following the completion of the sale, the executive vice president now owns 8,148 shares of the company’s stock, valued at approximately $772,756.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paola M. Arbour sold 18,168 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $96.96, for a total value of $1,761,569.28. Following the completion of the transaction, the executive vice president now owns 29,803 shares of the company’s stock, valued at $2,889,698.88. The disclosure for this sale can be found here. Insiders have sold a total of 51,268 shares of company stock worth $4,944,810 over the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Tenet Healthcare Company Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.